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TWO ! II i 1-5 1-5 1-5 v ! – BIT ‘ 1 hot 1 earV MEEPASSED AND BUSINESS ACAINNORMAL t’fttsburg Exchange Closed for the Day Westinghouse Electric Recovered Sharply in New York. The Pittsburg Stock Exchange was Closed today and It is quite probable that tt wili dose from day to day for the remainder remainder of the week. At 1U o’clock Sec-try Sec-try Sec-try C J. Holman announced that, at a, me a ting of the directors this morning, ft was unanimously decided t oclose the exchange for the day and added that any member making trades on the floor would be liable to fine or suspension. This an-Beunoement an-Beunoement an-Beunoement was greeted with expressed approval on the part of the members, who f el that the action taken was wisest Jd best in view of the probability that fiervous holders of securities might wantonly wantonly sacrifice their securities. At the ‘Pittsburg Clearing house, ex-hangs ex-hangs ex-hangs were $10,083,125, an increase of $1,686,200 over the same day last year. A3 usual, in the case of a suspension of a banking- banking- Institution, Manager W. W. McCandlesn read a notice to the effeot that the clearing- clearing- house representative of the Iron City Trust Co. would not pay checks drawn on that company, and Checks received by the clearing house banks were, therefore, returned to the banks from which they were received. "uni muu y i falls to disclose any weakness, and f RHHieiancc ims uren itxjucaicu Uj ! banking institution I UNITED STATES DEPOSITS HERE The government aid at this time is roost timely and receipt of such deposits today and tomorrow will greatly relieve the pressure for currency here, which has been very scarce fur pome weeks, as the iCew York hanks made every effort to prevent shipping it to the interior cities. Business at the tanks and trust companies companies is being conducted in normal fash-ion fash-ion fash-ion and, otuide of the Westinghouse situation, situation, there has been nothing to cause uy worry. The appointment of receivers for the Westinghouse Kkctric & Manufacturing and Westinghouse Machine companies has, In fact, relieved the siaition, and pjtancial interests havve no IS-itancy IS-itancy IS-itancy in Eaying that yesterday’s proceedings were for the bet interests o? the companies affected and the community in general. An idea of the currency needs of Pittsburg Pittsburg can be appreciated when it is recalled recalled that the weekly pay roils put up by the banks probably runs from ?7,0Ou.-000 ?7,0Ou.-000 ?7,0Ou.-000 to $-i,tXvU, $-i,tXvU, $-i,tXvU, and this has entailed a burden on the hanks to secure the necessary necessary currency to make these payment. RECEIVERS CONFER. The receivers of the three Westing house companies met this morning in j the office of T. Hart Given, president of ! tile Farmers" National Bank, and one of the receivers ior the Westinghouse Elec- Elec- i trie & Manufacturing Co. Mr. (liven j Said to a representative of The Press. TVi rfirfivppa T:iT-tfH T:iT-tfH T:iT-tfH work- work- flii: jnnrn- jnnrn- 1 tntr nnl will cnntimiii until thp affiiirs 1 !n of the companies are adjusted. I do not think there is any reason for anxiety." The companies have large orders on hand and tiie work at the various Wett-tnghouse Wett-tnghouse Wett-tnghouse plants will not be affected in tlie least. ‘The appointment of a friendly receiver- receiver- Bhip for the Iron City Trust Co. was a ! matter of expediency and not or neces- neces- i nity." said President Wiliiam L. Abbott, t who Is also one of th. receivers, this j morning. The company is solvent ana has three dollars for every one deposited. After the depositors are paid in full there -Will -Will be enough money left to pay the Stockholders as much as, if not more ‘than, their shares are bringing in the market today. "The Iron City Trust Co. is located in the Westinghouse building and has been closely identified with the Westinghouse Interests. The directors decided it was advisable to close the doors. The com- com- pany is a creditor to the Westinghouse -companies, -companies, but even if all these debts – should be charged off there would still be assets sufficient to pay the depositors in full. The" company has assets of $1,300,-O0O $1,300,-O0O $1,300,-O0O and deposits of $ We regarded regarded It as inexpedient to call in our loans suddenly or to sell otir collateral, as it might embarrass some sound business Men." "The receivers are collecting the assets end winding up the affairs of the company company promptly, expeditiously and economically. economically. The depoistors will be paid in partial partial payments and promptly, and the ntockholrters will lose nothing. "Deposits were offered the company this tnornlng, but the receivers, of course, refused refused to accept tnem." News from New York this morning "Was of a hopeful character ar.d the relief measures announced by Secretary Corfel- Corfel- j you were everywhere commanded. The market opened very stri.iiK and from large fractions to 2’L points higher, though there was s..uie acti-e acti-e acti-e selling in tha early Westinghouse Electric opened ?5 higher at 4 and went to $-15, $-15, $-15, Though reacting to :.’, before the end of j ir. The London market ; the first half hoi toaay was very strong on -menean -menean se- se- i entities. With the mutual consent and wishes of mil concerned, receivers were asked for and appointed by Judge- Judge- Nathaniel Ewing in United ?tat’– ?tat’– ?tat’– Circuit Court yesterday yesterday afternoon for three of the companies that compose the Westinghouse interests the Security Investment Co. of Pittsburg, Pittsburg, the Westinghouse Machine Co. and the Westinghouse Electric & Manufacturing Manufacturing Co. It Is stated that the receivers were asked for owing to tlie fact that in the i- i- i. u,ih!. t., e. ,- ,- r.!lct, tn 3k, the Binkim-r Binkim-r Binkim-r fund payments as they mature, mature, and the interest on the funded debt, and are unable to pay the principal and interest due and presently falling due on the floating debt. The receivers were appointed by Judge Ewing in chambers as follows: Westing- Westing- house Electric & Manufacturing Co.. T. Wat- Wat- ni-en ni-en ni-en II -5 -5 tewjirt v TI Herr; Westinghouse Machine Co.. Will- Will- lam McConway. William H. Donnfr, E.J E. Keller; Securities Investment Co., the Fidelity Title Trust Co. The receivers were brought through actions tiled by H. H. Westinghouse of New York and the Altha Ste?l Casting Co. of New Jersey jigainst the electric and machine companies, and II. H. Westinghouse Westinghouse aval Waiter C. Kerr against the eecurities company. The Fidelity Title & Trust Co. is not required to furnish bond, but bond in the sum of $loo,o) each was given in each of the other suits. The bills were tiled by Gordon & Smith and Reed. Smith. Shaw & Real, while A. M. Thompson represented the Westinghouse Westinghouse interests. The complaints state. among other things, the following: If the business i.- i.- allowed to continue tttid the contracts are carried out the assets of the defendant company will be txi excess of all liabilities and will. If properly administered, pay all debts and leave a substantial residue for the stockholders." stockholders." . Judge Nathaniel Ewing. of the United States Court, this morning, made an order authorizing the receivers of the Westinghouse Westinghouse Machine Co. and the Westinghouse Electric & Manufacturing Co. to ray the employes at Trafford City the sum of $25,000 for wages due from October 1 to stS and the employes at East Pittsburg the sum of for wages due from October 1 to 23. Attorney George B. Gordon presented the petition fT the order. The petition fa made for W. 11. Donner and William AN EPIDEMIC OF COLDS The Changeable Weather of the Past Week Brings a Harvest Harvest for Physicians. The changeable weather experienced by I"ittsburgers during the past few-days few-days few-days has brought on an epidemic of colds which in many cases is developing developing Into more lasting and serious diseases. diseases. Many cases of pnjeumonla and bronchial disorder are Reported and physicians are reaping the usual harvest harvest resulting from exposure and lack of attention following the slight attack of cold. Our readers are cautioned to take especial .care to ward off the evil effects following slight colds, most notably of these being catarrh. This dread disease usually manifests Itself by a ringing noise In the ears, a thin, watery discharge from the nostrils, an offensive offensive breath, matter dropping- dropping- back Into the throat, and many other annoying and unpleasant symptoms. The following prescription recommended recommended by a leading physician, is said to be a thorough cure for catarrh: Fluid extract of Dandelion, one-calf one-calf one-calf ounce; fluid Glnsengeo concentrated, one ounce; syrup Sarsapariila compound, five and one-half one-half one-half ounces; Tincture Cinchona compound, one ounce. The ingredients can be purchased at small expense from any well stocked pharmacy and eaaiiy mixed at home, amd if taken In teaspoonfu; doses before before each meal will bring instant relief. McConway, receivers. There are 400 employes employes at Traftord City and 3,50 at East Pittsburg to receive wages which are due 0ctober 25, Tno wages of the men have been paid semi-monthly. semi-monthly. semi-monthly. SOLVENCT UN DENIED. Judge Ewing appointed William. X. Abbott Abbott and H. S. A. Stewart as receivers for the Iron City Trust Co.. located in the Westinghouse Building. Penn avenue avenue and Ninth street, vesterday afternoon. afternoon. Attorney Willis F. McCook filed papers showing that the Iron C;ty Trust Co. has assets exceeding S-i.OuO.’XX) S-i.OuO.’XX) S-i.OuO.’XX) and liabilities to depositors of about ?1.700,000. The company was organized in 1901. but m Willi F". McCook, ronnsrl for the Iron City Trust Co., In an Interview thin morning, said lie nlnhrd stretw laid on the f iu t that drpuKitor of the company will be paid In full. lie said there were ft number of poor people, Ignorant of financial affairs, among the depositors, and such persona should be cautioned against transferring their deposits to shrewd persons, who. knowing; the deposits were good, miKbt offer offer to buy them for a low son), such kh BO cents on the dollar, and thereby realize a handsome profit at the expense of the depositors. depositors. the present organization was perfected 1′.i03. Its capital stock is listed at $2.Ct.ooO, Its surplus at ?u0,CK"iO. and un- un- I divided profits at $150.)0. A director marie the following statement last night: "There seems to be no doubt of the solvency of the company and of Its ability ability to pav its depositors in full. This action was precipitated by the appolnt- appolnt- ment of receivers for the various West- West- was uiut ut.. by the board of directors as the best method ot preserving the interests or (le- (le- positors and stockholders. With the small amount due depositors, in comparison with the assets, it is the opinion that the closing of the doors of this institution will have little effect upon local financial or commercial conditions." SITUATION 13 SOUND. A careful canvass of the situation reveals reveals tlie fact that Pittsburg banks are sound and there is nothing to fear, as shown by the following views of financiers: financiers: R. B. Mellon I think the situation is much improved. Underlying conditions are sound, and there need be no worry for the future. This is a flurry that will pass as quickly as it came, and when the sky is clear I believe It will be found that no one has been seriously hurt. Robert Wnrdrop. president Peoples National Bank The situation is well in hand. I see no danger for apprehension. The clearing house banks have made their position plain. There have been no applications for help, but the clearing house stands ready to give it should it be needed. I do not think we will be called upon. II. E. McEldowney, president Union Trust Co. So far as I can see none of the financial institutions In Pittsburg neod money. The flurry of the present will pass and in a week it will be forgotten. forgotten. Everything is all right. IX P. Black, president of the Real Estate Estate Trust Co. The excitement attendant attendant upon the events of the past few davs cannot but have some influence, but there is nothing serious or alarming in tlltl situation. There is plenty of money n Pittsburg, and after tnis excitement dies down I see no reason nhov.ld not go on as before. why things B. F Jones, Jr.. president of the Jones Laughlin Steel Co. Things are all right. There is no need for alarm. A vast amount of money Is required to conduct conduct the operations of large manufacturing manufacturing Institutions, and just now it is not obtainable as quickly as it might be. This thing will all pass, and pass quickly. Durbin Home, president Joseph Home Co. I don’t see why there fthmiid be business trouble. Business is fine and col- col- i lections are good. This condition will work out to the satisfaction of every body. R. C. Hall, president Pittsburg Stock Exchange The action of the Stock exchange exchange was in the line of sanity and common sense. The position today does not affect the great Pittsburg structure. as " naa to come it was netier that it came when it did than to remain a frightening phantom in the background. We can’t look for a bu’l market, but everybody will get what Is coming to him. A dispatch from Washington, D. C, says: Senator f. c Knox said tocia? that he had been in long distance tele- tele- i phone communication with business men in Pittsburg and that it was hss opinion fvon information they gave him that the government aid furnished by Secretary Cortelyou had entirely relieved the financial financial situation there. Senator Knox called on the president this morning." New York. October 23. Judge Ward, in the I’nited States Circuit Court here, today today appointed E. M. Herr. T. H. Given and Charles L Burlingham auxiliary receivers receivers for the Westinghouse Electric & Manufacturing Co. for the southern district district of New York. They are required to give a joint bond of $20,Hl and are ordered ordered to take charge of the property and assets of the company in this city. TRAGEDY MAY BE RESULT OF A GREAT LOVE Contiuned from Paa;e One. thrnneli a ltvlngr hell. If ever man did. Ills rlgbt haad pressed to fcls eyes, as n man does whrn engaged In silent prayer. Smith was vreeplnsr. But his tears were not the kind that WE MUST SELL THIS ”BANKRUPT" INC IN A At Last! The Clothing Sight Drop Everything Men, here’s the most you’ve read for some That great big Clothing which has for some time la going in a few days. And in those few dollars worth of SOLD. How are we going BT CUTTING PRICES Tou know how low beginning of this sale. just about half to what We are not losing this clothing at such We bought it at 60c an Eastern Manufacturer ready cash to save ruptcy. If you know a you see it, vou’ll be MEN’S FINE BLUE OVERCOATS 45 inches long, throughout silk sleeve wholesale price f 18, retail price $12. – MEN’S TOPCOATS. which were at wholesale MEN’S CRAVE extra fine cheviots, stripes and Invisible hand-tailored hand-tailored hand-tailored wholesale $20, retail price $25 price $15. MEN’S FINE ors and diagonal wholesale price $12, salo price $10. MEN’S FINE Priestley Cravenette mixed wholesale price $12.50. our sale price MEN’S VERY FINE CAS SI MERE SUITS hand-tailored, sinele and wholesale prices $15 $1 to $22.50. our sale These goods come patterns and shades in our windows). MEN’S FINE SILK TED AND FINE SERGE SUITS single ed, at $12. fRetrular selling MEN’S ALL-WOOL ALL-WOOL ALL-WOOL CASSIMERE SUITS, retail price $15, our These goods come patterns, little check stripes and plain black PANTS WERE CHEAP. THEY COME IN ALL MAKES OF CHEVIOTS AND ARE HAND-TAILORED. HAND-TAILORED. HAND-TAILORED. Take your choice $2.5o. $2.75. $3.50. MEN’S FINE BLACK OVERCOATS 45 Inches $ (Regular MEN. HERE’S A LIFETIME TO GET We are going to have at less than the All sizes, colors will be placed on sale low prices of 75c, $1 Surely, some of interest you. But if remember there are values here. Open Saturday night LIBERTY 646 Liberty Corner 6th bowed his head and his eyes. He made control himself, but trickled down his himself. William Smith gave impression of being emotions. That he can hardly be was a passion of the apparent, if it is true, wealth maintains, because of jealousy, discovery that she had endearing letter from a Anthony Carroll. lutrnxe love and be clone akin. may readily have Into frantic ferocity the woman lie another man cause to to her. BROKEN It is this and other leads to the belief dead woman were, least, madly devoted came to this country before the tragedy, sneers their hrinc tx-i tx-i tx-i eve thpv n-prfl n-prfl j t-i t-i t-i m ! -u- -u- -u- erwliner of to the pathos of the Smith, after the to end his own life laudanum. He was jaws of the grave. for his life now. but be greatly interested seems to be overwhelmed A broken flnser. Mays, will drive the vacant chair. (if one may hazard Buffering from a broken And It only serves aching void that entered of September 18. when woman he loved, bevond and by his Smith tells the truth. Increase Your The new self-lighting self-lighting arc will do It. efficient. Installed of cost. For stores, factories, halls and Drop postal or full particulars. THE 435 Sixth avenue. The Old Germania and Diamond streets, pays 4 on savings. Cne dollar opens a 4 at the old Germania mav be worth a lot start now. THE GEORGE Pittsburgn’a oldest certified. recognized Building. S41 Fourth HOME OF THE can only be W. F. Frederick

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